The Investor Psychology Cycle 각 단계별로 투자자의 심리적 행동양식을 관찰해보자. Contempt : a bull market starts when market is at a low and investors scorn stocks Doubt and suspicion : the investors are trying to decide if to invest what whey have left in low risk instruments as money market fund or not, because they lost a lot with stocks and they do not want to loose againCaution : now, the first sighs of market recovery are seen. Most investors stand in the same position but prudent investors are already drooling at the possibility of profitConfidence : usually.......